WASHINGTON, DC-Lowe Enterprises Investors has acquired the Embassy Row Hotel in Dupont Circle on behalf of a venture between LEI, The Guardian Life Insurance Co. of America and a subsidiary of Allstate Insurance Co. The 231-room hotel, located at 2015 Massachusetts Ave NW, will be renovated and repositioned as a contemporary independent boutique hotel.
An LEI affiliate, Destination Hotels & Resorts, is taking over the hotel management with the sale.
The Embassy Row Hotel has 231 guest rooms, approximately 6,650 square feet of meeting space, and a rooftop pool. The planned renovation will focus on the food and beverage, work and social spaces as well as the guest rooms. A new open lobby area will be introduced, along with a bar.
Russell Munn of Lowe Enterprises Investors and Rick Rush of Lowe Hospitality Group led the acquisition team. Todd Ratliff of Hodges Ward Elliott represented the seller.
Other LEI and Lowe Enterprises projects in the DC area include 1400 Crystal Drive in Arlington, VA and the renovation at 11141 Georgia Avenue in Wheaton, MD. Lowe's Washington, DC office is also developing the Fort Totten Square mixed-use project.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
